Since Binance announced that USDC, existing or newly deposited Stablecoins such as USDC, USDP and TUSD in user accounts will be released. After all of them were automatically exchanged for Binance USD (BUSD) at a ratio of 1:1, the outflow of USDC from Binance increased by 93%, and the market value of USDC also fell by 5%.
According to data from blockchain analysis company Nansen, as of the afternoon of September 28, the value of Stablecoins held by Binance exchange was $26 billion, of which $20 billion was BUSD, others included USDC worth $683 million, 48 million USDP in USD and $283 million in TUSD.
According to Nansen, the only significant Stablecoin on Binance is $5 billion worth of Tether (USDT).
DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
